The suit claimed the chemical company was undercapitalized as a result of debt from the merger, making its January bankruptcy filing inevitable. It also cited emails in which executives with the private equity firm that controls the company expressed doubts about the deal’s viability before it was completed.

Late yesterday, the private equity firm, Access Industries, filed a response, saying it believed the $12.7 billion merger would succeed and that it was undermined by “unforeseeable twin calamities of an historic economic crisis and an unprecedented commodities price volatility.”

At least they didn’t say it was a perfect storm. At any rate, here’s the filing: